Marketization of virtual money

1.

In the eyes of speculators, the value of virtual currency can be expected. The value of money is not the same as that of general commodities. It does not lie in its own value, but mainly comes from the degree of recognition

there is a commodity widely criticized as a fraud, which is also very expensive and has a certain degree of similarity with bitcoin. That is the symbol of love which is hyped by businesses and recognized by the public - diamond

the price of diamonds is very expensive, but in fact, if not as decorations and souvenirs, the practical value can not support the amazing price

However, this does not affect the market value of diamonds at all. The reason is very simple, people have accepted the existence of diamond as a symbol of love, in the decoration and souvenir market, diamond is highly recognized. As for legal tender which is closer to virtual currency, its value almost entirely comes from the high degree of recognition brought by government credit guarantee

bitcoin has brought the blockchain technology into the public's attention. If the virtual currency based on the blockchain technology can be widely recognized one day, the value of bitcoin is beyond doubt. So it's a bit early to conclude that virtual money is worthless. If it is an undoubted fact that virtual currency is worthless, no one will hype any virtual currency including bitcoin. The reason why many people hype virtual currency is very simple. Some people think that virtual currency is not only valuable, but also undervalued

2. Price is the core of the market, which reflects the relationship between supply and demand and guides the optimal allocation of resources. Interest rate is the price of money. Interest rate marketization is to give play to the price mechanism of interest rate, make the financial market play a role, optimize the allocation of funds, and promote the development of the real economy
China's exchange rate is still market-oriented, and the long-term single rule of pegging to the US dollar, to some extent, aggravates China's balance of payments surplus, which is reflected in the accumulation of a huge amount of foreign exchange and internal inflation. However, the marketization of exchange rate should be based on the marketization of interest rate step by step. Otherwise, the rash opening of capital account and the marketization of exchange rate will only lead to severe financial turmoil, which will have a huge impact on China's economy. Latin America and Southeast Asia are all lessons from the past
on the one hand, the internationalization of RMB is the objective demand caused by the growth of China's economic strength; on the other hand, it is a challenge to the current international monetary system. As the world's main reserve and settlement currency, the rights and obligations of the US dollar are not equal. When it is in deficit, it only needs to print US dollars. While other countries accumulate US dollars when they are in surplus to be used when they are in deficit in the future, they have to use various policies to make painful adjustments when they are in deficit, and often at the expense of their own growth
the current progress is that interest rate liberalization liberalizes the upper limit of loan interest rate and the lower limit of deposit interest rate; The marketization of exchange rate is graally adjusting, and the floating range of RMB is relaxed; In terms of RMB internationalization, Hong Kong and other RMB settlement centers have been basically established. In recent years, a variety of new currencies have been freely convertible with RMB. In particular, rouble and other two currencies have been used. One is expressed by direct pricing method, and the other is expressed by indirect pricing method, which is worthy of attention
that's about it. I think you are a student in school and need to write a small paper. At present, the main point of view and consensus is what I said. That's the end of the guide. How to research and develop is your ty. If you have any questions, ask again< br />

3. As a kind of currency, the most important attribute is to make people feel reliable. Therefore, central banks all over the world have formulated a wide range of systems, global financial institutions supervision, and a large number of market-oriented operations. However, the money market is still not really stable. The currency based on computer technology, in the eyes of most people, is a complete black box. It is not clear what is in it and whether it is the same as the rumor disclosed by the company. If virtual currency can become a stable currency, one of the points is to make all participants become professionals who can understand the code and are familiar with computers.

4. I'm also studying interest rate liberalization. It's just, I didn't think about why. I only know that this is the idea of China's interest rate marketization reform. Generally speaking, the reform is graal. In China, the local currency is more important, the influence is greater, the risk is greater, and the steps are more.

in the MBA think tank network, I have been editing the entry "interest rate marketization" for an afternoon< In terms of foreign currency, it mainly refers to foreign exchange control, including fixed exchange rate system, linked exchange rate system (Hong Kong), floating exchange rate system and free exchange rate system
China has changed from a fixed exchange rate system to a floating exchange rate system. I'm not sure about the details now. I'm learning. There is a better answer to supplement the general idea of China's interest rate marketization reform: "first foreign currency, then local currency; Loan before deposit; First long-term, large amount, then short-term and small amount ", which shows the determination of the central bank to intensify the reform of interest rate marketization.

5. All kinds of currencies that are not completely market-oriented are enterprise currencies. The reference value is not great

6. It is mainly realized by controlling the amount of base currency. When the central bank uses monetary policies such as deposit reserve ratio, open market business and rediscount rate, it plays a role by influencing the reserve in the base currency. If the central bank increases the deposit reserve ratio, the reserve of commercial banks in the central bank will increase. When other conditions remain unchanged, the amount of base money they can use will decrease correspondingly, and the scale of credit will decrease. As a result, the money supply will be reced through multiplier effect, resulting in deflation and inhibiting the growth of investment and economic development. If the central bank buys securities from commercial banks or the public in the open market, it will put the base money into the market. Although the reserve of commercial banks in the central bank will increase, the available base money will increase more than that, and the credit scale will increase, which will increase the money supply through multiplier effect and promote the growth of investment and economic development, And it could lead to inflation